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Statement from Councilman Sal DiCiccio - Attention PSPRS Members: Union Leadership & City Council Are Putting Your Pensions at RiskStatement from Councilman Sal DiCiccio - Attention PSPRS Members: Union Leadership & City Council Are Putting Your Pensions at Risk<div class="ExternalClass849484DF251D44F790034ED7746B5B1C"><p style="text-align:center;">​<strong>Attention PSPRS Members: Union Leadership & City Council Are Putting Your Pensions at Risk</strong><font face="Times New Roman"><br> </font>You have risked your lives for us. You deserve better than this.</p><table width="723" dir="LTR" border="0" cellspacing="0" cellpadding="1"><tbody><tr><td height="13" valign="MIDDLE"> <font face="Verdana"><p>PSPRS members – our local cops and firefighters – have put their lives on the line for us. Now, politicians in the city of Phoenix, and city staff, have come up with a plan to increase short-term spending on their pet projects, a plan that will put the hard-earned retirement of every Phoenix first-responder at risk of being cut, perhaps dramatically. They did this with less than a week of public notice. Those of us on the City Council who are – rightly - worried about the consequences of this foolish decision weren’t even given the time to reach out to PSPRS members with our concerns for their long-term welfare. Barring any other way to reach out to all of them in time, I am publishing my letter to our first responders here:</p> <em><p>To All our Brave Phoenix Police, Firefighters and Emergency Responders,</p> <p>The city of Phoenix is selling you out. Last year we made a deal to pay off our unfunded obligations, money you are owed by the City, over the next twenty years. This week, City politicians came back to us with a plan to move to a thirty-year payoff.</p> <p>That may not sound like a big deal. But it is a huge deal, and comes with the real possibility that in the future the City may not be able to make those payments at all. Just making that shift increases the cost to pay off those pension obligations by $2.3 billion – an amount equal to almost twice our entire general fund budget.</p> <p>Times are pretty good right now. Not for everybody, obviously, but for Phoenix, they are. We took in more tax revenue this year than we ever have. We are spending more money than we ever have. We can and should be keeping to the payment schedule we agreed to, because if the politicians aren’t willing to pay their bills now, when times are good, what makes you think they will keep their promises and make those payments when times are bad?</p> <p>City politicians don’t want to keep their promises to you – and pay you the money you are owed – because they want to have even MORE money to spend on their pet projects. But every one of those projects they want to divert your money to – they aren’t going to go away. Government projects never do. They just keep growing and demanding more money. So what happens if there is another economic downturn in the next 30 years?</p> <p>The economy goes up and down. Right now it’s up. Sometime in the future it will go down. When that happens – if we adopt this new 30-year payoff plan – you will be the ones who suffer the consequences, not the fat cats at City Hall. </p> <p>The fat cats aren’t doing this to their own pension plan. Just yours. There’s a reason: when the downturn happens, if we follow this new plan of theirs, your pension will end up being cut. You will get pennies on your hard-earned dollars -just like Detroit. We can’t allow that to happen.</p> <p>I need your help. Talk to your union representatives – today – and tell them to oppose this plan. Tell them that Phoenix needs to pay you the money you are owed, not hand you a worthless IOU.</p> <p>If you are being told, in any way, that this plan will be good for you, you are not being told the truth.</p> </em></font><em><font face="Arial"></font></em><font face="Arial"></font><p><font face="Arial"><em>If you have questions, I urge you to call my office immediately at 602-262-7491. We will take the time to discuss the massive implications of this proposal with you in detail and share any and all internal documents we have received from the City and PSPRS.</em></font></p></td></tr></tbody></table></div>6/9/2017 8:30:00 PMMatthew Heil602-534-0108